The Big Business Of Supplements

Our big business of supplements graphic summarizes the rapid growth of the supplement industry worldwide. The supplement industry continues to grow with over half the human population now consuming vitamins and supplements daily.

At PreWorkout World we’re all about fitness supplements. But that only makes up a small fraction (28%) of the global supplement industry.

So we decided to dig in and explore the current trends in the supplement market and along the way, we discovered some interesting facts that you can learn about below.

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55-60% of consumers worldwide take vitamins and supplements on a daily basis

The Overwhelming Growth Of The Supplement Industry

  • In the US, every demographic sees a sizable supplement intake
    • Age
      • 70% of adults 18 – 34
      • 81% of adults 35 – 54
      • 79% of adults 55+
    • Gender
      • 79% of females
      • 74% of males
    • Location
      • 73% for adults in the Northeast
      • 74% for adults in the Midwest
      • 80% for adults in the South
      • 78% for adults in the West
  • Supplements of all kinds take center stage
    • In the past 12 months, American adults have consumed:
      • Vitamins (76%)
      • Specialty supplements (40%)
      • Herbals and botanicals (39%)
      • Sports nutrition supplements (28%)
      • Weight management supplements (17%)

[Call Out: The supplement market hit record growth in 2021 at a CAGR of 14.5% — and these numbers are only projected to rise]

What Caused the Supplement Business to Grow?

  1. Global Health Factors
    1. Aging populations
      1. 1 in 6 people will be 60+ years old by 2030
    2. At-risk global population
      1. Worldwide deaths due to illness rose 10% in just 23 years
    3. Increased mortality rates
      1. The world death rate has increased four years in a row
  2. Supplement Industry Growth During COVID-19
    1. In 2020, supplement sales rose:
      1. 19.6% to $474 million for women’s vitamins
      2. 33.7% to $229 million for men multivitamins
      3. 37.2% to $306 million for children’s multivitamins
    2. In 2020, household purchases of vitamins rose to 90%
    3. All demographics increased vitamin use by 74 – 75%
  3. New scientific backing for vitamins fosters increased confidence
    1. Vitamins may improve physiological, cognitive, and functional outcomes
    2. Vitamins may reduce injuries and improve performance during workouts
    3. Vitamins may slow the rate of brain shrinkage

[Call Out: The development of commercial supplements is now pioneered by field experts]

5 People To Know Who Are Shaping The Supplement Industry

  • Ernesto Sigmon
    • Founder and CEO of Black Edged, LLC
    • A 100% Black-owned company that scientifically formulates supplements for the health needs of Black people
  • Dr. Banafsheh Bayati
    • One of three founders for Perelel
    • The first and only OB/GYN-founded vitamin company that formulates nutrition for reproductive life cycles
  • Karen Howard
    • CEO and executive director of Organic & Natural Health Association
    • Influencer setting guidelines on supplement sustainability, transparency, accessibility, and traceability
  • Dr. Uma Naidoo
    • Nutritional psychiatrist and faculty member at Harvard Medical School
    • Director of Nutritional & Lifestyle Psychiatry at Massachusetts General Hospital
    • Studies the impact of food and dietary supplements on mood and health
  • Eli Faraggi
    • CEO & Founder of InnoBev
    • Nootropics pioneer for brain hacking via natural ingredients and supplemental beverages

[Call Out: The supplement industry is projected to reach a global value of $98.6 by 2031 at a 7.6% growth rate — signaling fast changes and upcoming trends]

The Anticipated Future Of The Supplement Industry

  • New supplement categories enter the scene
    • Sleep gummies (up 1,483% over 5 years)
    • Irish moss (up 650% in 5 years)
    • Mushroom coffee (up 203% in 5 years)
  • DTC Supplement Brands Are Rising
    • Truvani (4.4 million revenue)
    • TrueBrain Nootropics (11.8 million revenue)
    • Your Super (70 million revenue)
  • Pre-workout supplements continue to grow
    • New ingredients take center stage
      • 87% contain beta-alanine (control muscle fatigue)
      • 86% contain caffeine (to elevate energy)
      • 71% contain citrulline (improves muscle building)
      • 63% contain tyrosine (encourages epinephrine and dopamine)
      • 51% contain taurine (building block of proteins)
      • 49% contain creatine (improve performance)
    • 58 of the top 100 pre-workout products have at least one proprietary blend
    • New companies and blends are trying out new ingredients
      • BSN: Cholecalciferol
      • Finaflex: Theobromine
      • EFX Sports: Creatine Monohydrate Synthesized to pH 12
      • Nutrex Research: Advantra Z®
      • SynTech Nutrition: Arginine-alpha-ketoglutarate (AAKG)

As the vitamin industry grows and its nutritional complexity deepens, be sure you know the industry both inside and out

Sources

https://www.prb.org/resources/fact-sheet-aging-in-the-united-states/

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